FARMERS & MERCHANTS TRUST Co OF LONG BEACH Invests $315,000 in Parker-Hannifin Corp (NYSE:PH)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new position in shares of Parker-Hannifin Corp (NYSE:PH) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,719 shares of the industrial products company’s stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. FMR LLC raised its stake in shares of Parker-Hannifin by 16.1% during the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after purchasing an additional 43,094 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Parker-Hannifin by 2.5% during the 4th quarter. Macquarie Group Ltd. now owns 51,692 shares of the industrial products company’s stock valued at $10,639,000 after acquiring an additional 1,259 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Parker-Hannifin by 8.7% during the 4th quarter. Franklin Resources Inc. now owns 4,909 shares of the industrial products company’s stock valued at $1,011,000 after acquiring an additional 391 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Parker-Hannifin by 4.9% during the 1st quarter. State of Alaska Department of Revenue now owns 22,156 shares of the industrial products company’s stock valued at $2,874,000 after acquiring an additional 1,043 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in shares of Parker-Hannifin by 3.5% during the 1st quarter. Private Trust Co. NA now owns 4,091 shares of the industrial products company’s stock valued at $530,000 after acquiring an additional 139 shares during the last quarter. 78.70% of the stock is owned by institutional investors.

Shares of NYSE:PH traded down $1.60 during trading on Friday, hitting $178.92. 876,263 shares of the stock were exchanged, compared to its average volume of 871,231. Parker-Hannifin Corp has a 1-year low of $93.00 and a 1-year high of $215.94. The company has a market capitalization of $22.94 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.58 and a beta of 1.67. The company’s fifty day simple moving average is $181.86 and its 200-day simple moving average is $171.86. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.94 and a current ratio of 1.49.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 30th. The industrial products company reported $2.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $0.68. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.56 billion. Parker-Hannifin had a return on equity of 24.30% and a net margin of 9.32%. Parker-Hannifin’s revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $3.17 EPS. On average, research analysts forecast that Parker-Hannifin Corp will post 9.74 earnings per share for the current fiscal year.

In related news, CFO Catherine A. Suever sold 1,862 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $204.60, for a total transaction of $380,965.20. Following the completion of the transaction, the chief financial officer now owns 37,845 shares in the company, valued at approximately $7,743,087. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew D. Ross sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $205.18, for a total value of $1,025,900.00. Following the transaction, the vice president now owns 14,091 shares of the company’s stock, valued at approximately $2,891,191.38. The disclosure for this sale can be found here. 1.23% of the stock is owned by company insiders.

PH has been the topic of a number of analyst reports. Gordon Haskett raised Parker-Hannifin from a “hold” rating to a “buy” rating and increased their price objective for the company from $163.00 to $229.00 in a report on Tuesday, June 16th. Argus raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Monday, May 11th. Zacks Investment Research raised Parker-Hannifin from a “sell” rating to a “hold” rating and set a $176.00 target price on the stock in a report on Tuesday, May 19th. BMO Capital Markets raised their target price on Parker-Hannifin from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Barclays raised their target price on Parker-Hannifin from $217.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Parker-Hannifin has a consensus rating of “Buy” and an average target price of $201.67.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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